Switching B/Ds and the Law of Unintended Consequences

Johnson, Timothy
April 2007
Journal of Financial Planning;Apr2007 Supplement, Vol. 20, p30
Academic Journal
The article discusses the effects of Regulation SP, which was passed by United States Congress as part of the PATRIOT Act, on the financial planning industry. The regulation is focused on protecting consumers' personal information, but has substantially curtailed the block transfer of a representative's clients if they move to a new firm. This can often be damaging for consumers and brokers alike, as the former are forced to deal with a new financial planner and the latter must find new clients.


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